Tag Archives: oil and natural gas

Despite a recent increase in the gross production tax on oil and natural gas and a 3.8% increase in collections for 2019, the state's GPT brought in 40.6% less revenue in December than it did for the same month a year prior.

An assessment of Oklahoma tax policy regarding the oil and gas industry released Thursday highlights the need for lawmakers to focus on the wider tax contributions of the industry versus limiting the discussion to production taxes, such as severance and ad valorem taxes, an economist said.